Karp Capital Management Corp Invests $214,000 in IBERIABANK Corporation (IBKC)
Karp Capital Management Corp bought a new stake in IBERIABANK Corporation (NASDAQ:IBKC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,706 shares of the bank’s stock, valued at approximately $214,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of IBKC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock valued at $150,000 after buying an additional 520 shares during the last quarter. US Bancorp DE raised its position in shares of IBERIABANK Corporation by 1.4% in the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock valued at $225,000 after buying an additional 38 shares during the last quarter. USA Financial Portformulas Corp bought a new position in shares of IBERIABANK Corporation during the fourth quarter valued at $308,000. Profund Advisors LLC raised its position in shares of IBERIABANK Corporation by 5.0% in the first quarter. Profund Advisors LLC now owns 3,949 shares of the bank’s stock valued at $312,000 after buying an additional 187 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of IBERIABANK Corporation during the fourth quarter valued at $431,000. Institutional investors own 86.06% of the company’s stock.
Shares of IBERIABANK Corporation (IBKC) traded up 0.06% during mid-day trading on Friday, reaching $80.40. 316,650 shares of the company were exchanged. The company’s 50 day moving average price is $80.94 and its 200 day moving average price is $80.58. The firm has a market capitalization of $4.10 billion, a PE ratio of 19.60 and a beta of 1.28. IBERIABANK Corporation has a 12 month low of $60.89 and a 12 month high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last released its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.12 by $0.02. The firm had revenue of $239.61 million during the quarter, compared to analysts’ expectations of $236.73 million. IBERIABANK Corporation had a return on equity of 7.14% and a net margin of 20.08%. Equities analysts anticipate that IBERIABANK Corporation will post $4.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 30th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Wednesday, June 28th. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 35.04%.
Several research firms have recently commented on IBKC. Keefe, Bruyette & Woods set a $90.00 price target on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research report on Monday, June 5th. Zacks Investment Research upgraded shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Wednesday, June 7th. ValuEngine upgraded shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.92.
In related news, Director E Stewart Shea III sold 4,147 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $80.65, for a total transaction of $334,455.55. Following the transaction, the director now directly owns 13,179 shares of the company’s stock, valued at $1,062,886.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Haddon Spurgeon Mackie, Jr. sold 4,217 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $81.86, for a total transaction of $345,203.62. Following the transaction, the executive vice president now directly owns 10,852 shares in the company, valued at $888,344.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,364 shares of company stock worth $2,650,159. 3.17% of the stock is currently owned by insiders.
IBERIABANK Corporation Company Profile
IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE, LLC (CDE), which invests in purchased tax credits.
Receive News & Stock Ratings for IBERIABANK Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK Corporation and related stocks with our FREE daily email newsletter.